When the going gets tough, many people will leave you; and the recession-hit developed economies being abandoned by immigrants is a testimony to this age-old universal saying.
Take the case of Facebook cofounder Eduardo Saverin who gave up his US citizenship to become a permanent Singapore resident earlier last year. Its the tiny countrys stable government and tax benefits - Saverins tax savings estimated at $39 million as a result of forsaking his US citizenship - that have made it a favourite destination for many, especially the wealthy people.
Singapores not the only country facilitating the reversal of immigrants preferences in terms of the destination country. Incredible India also shares the trophy, with many Indian-born foreign country residents actually flocking back to their homeland.
A significant number of Americans are now leaving their country to work and live in India. This is especially true of the IT sector. There was a time when Indian immigrants were behind several startups in the Silicon Valley. But today, the trend has been reversed with many preferring to move east to establish themselves as entrepreneurs in this emerging economy.
"Rising numbers of people of Indian origin born in the West are moving "back" to the country their parents left decades ago," explains a story in the BBC published in October last year. These overseas citizens can keep their original nationality, but are issued a lifelong Indian visa which permits them to work and live in India indefinitely.
And not just Silicon Valley workers, but DJs, chefs and singers from foreign countries are also moving back to India.
Just a few days back, the Financial Times also highlighted Chinese immigrants move back to their country from recession-hit Italy. The economic crisis and the resultantly high unemployment rates can be held accountable for this change of sides in the immigrant population.
Only a few years back, many from the East were seeking homes in the West for a better quality of life and better incomes. The latter also received these immigrants with open arms because of the demographic disadvantage of a low working age population.
However, as the worse hits the fan, the charm of these greener pastures has worn down and emerging giants are in vogue amongst immigrants.
Yet, the demographic challenge continues to exist in the developed world. "Italy has awful demographics and needs immigrants, notes Antonio Golini, professor of sustainable development at Romes Luiss University," said the FT article.
Many developed nations are clearly being dethroned of the star status of being destinations of choice. Overall, what is being called the longest recession since WWII has and will likely significantly change the face of global economics, politics and now, even demographics.
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